Zacks Investment Research Upgrades American Superconductor (NASDAQ:AMSC) to Hold

Zacks Investment Research upgraded shares of American Superconductor (NASDAQ:AMSC) from a sell rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “American Superconductor Corporation is a leading energy technologies company. The company develops and sells a wide range of products and solutions based on power electronic systems and high temperature superconductor wires that dramatically improve the efficiency, reliability and quality of electricity during its generation, transmission, distribution and use. The company is a dominant force in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world’s principal supplier of HTS wire, AMSC is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, motors, generators, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. “

Separately, TheStreet lowered shares of American Superconductor from a c- rating to a d+ rating in a research note on Wednesday, December 1st.

Shares of American Superconductor stock opened at $9.60 on Tuesday. American Superconductor has a 52-week low of $9.14 and a 52-week high of $30.75. The stock has a market capitalization of $272.59 million, a price-to-earnings ratio of -10.00 and a beta of 1.12. The company has a fifty day moving average of $12.44 and a 200-day moving average of $13.95.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Monday, November 8th. The technology company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.03). American Superconductor had a negative net margin of 25.87% and a negative return on equity of 17.64%. The firm had revenue of $27.91 million for the quarter, compared to analysts’ expectations of $24.90 million. During the same period in the previous year, the company earned ($0.16) EPS. On average, analysts predict that American Superconductor will post -0.76 earnings per share for the current year.

In related news, Director Vikram S. Budhraja sold 3,000 shares of the stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $11.98, for a total transaction of $35,940.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John W. Kosiba, Jr. sold 22,754 shares of the stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $11.31, for a total transaction of $257,347.74. The disclosure for this sale can be found here. Insiders have sold a total of 36,761 shares of company stock worth $501,943 over the last three months. 4.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AMSC. Advisor Group Holdings Inc. boosted its holdings in shares of American Superconductor by 74.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 18,256 shares of the technology company’s stock valued at $316,000 after acquiring an additional 7,806 shares during the last quarter. US Bancorp DE purchased a new stake in shares of American Superconductor during the 2nd quarter valued at about $31,000. Deutsche Bank AG boosted its holdings in shares of American Superconductor by 122.5% during the 2nd quarter. Deutsche Bank AG now owns 169,492 shares of the technology company’s stock valued at $2,947,000 after acquiring an additional 93,319 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of American Superconductor by 12.4% during the 2nd quarter. Baird Financial Group Inc. now owns 144,585 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 16,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of American Superconductor by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,908 shares of the technology company’s stock valued at $294,000 after acquiring an additional 1,324 shares during the last quarter. 57.55% of the stock is currently owned by hedge funds and other institutional investors.

About American Superconductor

American Superconductor Corp. engages in provision of megawatt-scale power solutions, which improve the performance of the power grid and lower the cost of wind power. It operates through Grid and Wind segments. The Grid segment enables electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, security, and affordability.

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